South Africa's potential junk downgrade could risk R118 billion

[Jamie McKane]

South Africa's potential junk downgrade could risk R118 billion

South African Reserve Bank Deputy Governor Kuben Naidoo said if Moody’s Investors Service cuts the country’s credit rating to junk there could be a selloff of between $5 billion and $8 billion of its bonds.

Moody’s this month cut its outlook on South Africa’s rating to negative, meaning the next move could be a reduction to junk because its current assessment is the lowest investment grade.

[Bloomberg]

 

[Jet-Fighter7700]

Zim 2.0 here we come!!!

 

[Utterly Confused]

Yip! Zim leads, we follow.

 

[Jet-Fighter7700]

Yip! Zim leads, we follow.

as does the rest of Africa for that matter.

 

[Matt91]

Scary stuff...

 

[ShaunSA]

Ag please. Nomvula Mokonyane will pick that up in a tick

 

[D.B.Cooper]

As jy nie will hoor nie moet jy voel. The ANC regime will learn that lesson well in the near future.

 

[klipdrifter]

As jy nie will hoor nie moet jy voel. The ANC regime will learn that lesson well in the near future.

The problem I foresee is that countries like Zim that followed this path showed the ANC the future but they still wouldn't learn from another country's mistake. I can't see them learning anything at this stage, they will probably blame apartheid for this as well and their voters will believe it as well.

SA's economy and future is not looking good and it won't be for a very long time until the ANC gets a leader that actually wants to change SA for good. They are appointing leaders for self gain and not for the country.

I just wish the voters would realize this.

 

[NarrowBandFtw]

the next move could be a reduction to junk

it won't be, not as long as the ANC pays Moody's the regular bribe money from the tax payers

 

[The_Right_Honourable_Brit]

Get your money into the Easy Equities USD account folks!

 

[Milano]

R118 billion at risk? Pfffft. Government regularly blows that type of small change with just a handful of f-ups. Bring it on